End of service with bank loan remaining
By Extinguishar •
I work in a government organisation under ministry of defence. I had 90000 Riyal loan from QIB. I have some trouble at my work. They are planning to end my services. I want to ask if suppose they terminate me, what will the bank do in order to in order to get its payment back?
What about the fees I payed to the insurance company while taking the loan. Will they not help something by paying the remaining amount to bank.
how many percent the insurance will pay?do the insurance the whole balance amount?what if the loan is just 6 months old?doest it still cover by insurance if any?
No worries about the balance amount, you won't have to pay, just show them your termination letter. But start looking for another job .. Good Luck !
If you have an insurance policy against the loan covering termination, you don't have to pay the remaining balance. Check with the insurance company.
if you have pending amount to be paid on loan, then the bank will deduct that amount and will pay you the balance if there is any.